The Last Minute Strip

We noted in the Midday Video for Members that the semiconductor stocks were suspiciously weak today, even with the Nasdaq at-large leading the rally. 

As it turned out, semis may have been some type of canary today, as we head into the final hour. The market simply has not yet staged a runaway short squeeze higher, a thesis which many market players are still expecting. And the semis may have stripped bulls of the ball this afternoon by flipping soundly in the red here. 

On the updated SMH daily chart below for the semis as a whole, you can see the significance of holding $46 tomorrow and beyond. I would even go so far as to say that if the semis break, then it is likely we see the Nasdaq give up today's gains, and then some. 

SOXS is the triple-bear ETF, with INTC TXN TSM being some important sector "tells."